Business Channel 2007-05-25&27

Sure,it's all smiles and handshakes now, but just wait until they sit down and talk when Wu Yi, Vice¹ Premier² and the most senior woman in China's Communist Party is likely to tell the US to back off, especially when it comes to China's currency, the YUAN. The US argues the YUAN is grossly undervalued by as much as 40%, making Chinese goods artificially cheaper.

We see companies going out of business. In the United States we see companies moving to other countries like India and China in order to be able to compete.

Cheap exports are fueling China's massive trade surplus, 63 billion dollars so far this year, much of that coming from the United States which means China is well on its way to a breaking last year's record-busting trade surplus with the US. And now some lawmakers in Washington are threatening to impose tariffs⁴ on Chinese goods if Beijing doesn't revalue its currency. In response, the head of the Chinese delegation⁵ Wu Yi has warned such irresponsible acts can only obstruct⁶ economic globalization and hinder the fundamental interests of both China and the US. In the weeks before these talks, China went on a very public buying spree across the United States, signing deals worth billions of dollars, and Beijing also slightly relaxed currency controls, allowing the value of the YUAN to move up or down a little more in any one day.

They don't like to appear to do things under direct pressure,uh, so by doing things beforehand, uh, close beforehand, they can show that they are in fact clearly tied to the talks.

The US Treasury⁷ Secretary interviewed here by a local media has warned if there is no progress during these meetings, there's every chance the talking will stop and then the US Congress will act.All the more likely, he added, with a looming⁸ presidential election.

John Vause, CNN, Beijing.

NOTES:


1. bust³
(informal)

break to break something:
I bust my watch this morning.
Tony busted⁹ the door down.

2. spree

[countable]
DL a short period of time when you do a lot of one activity, especially spending money or drinking alcohol
on a spree
They went on a drinking spree.
a shopping spree

1 vice   

n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的

参考例句：

• He guarded himself against vice.他避免染上坏习惯。
• They are sunk in the depth of vice.他们堕入了罪恶的深渊。

2 premier   

adj.首要的；n.总理，首相

参考例句：

• The Irish Premier is paying an official visit to Britain.爱尔兰总理正在对英国进行正式访问。
• He requested that the premier grant him an internview.他要求那位总理接见他一次。

3 bust   

vt.打破；vi.爆裂；n.半身像；胸部

参考例句：

• I dropped my camera on the pavement and bust it. 我把照相机掉在人行道上摔坏了。
• She has worked up a lump of clay into a bust.她把一块黏土精心制作成一个半身像。

4 tariffs   

关税制度； 关税( tariff的名词复数 )； 关税表； （旅馆或饭店等的）收费表； 量刑标准

参考例句：

• British industry was sheltered from foreign competition by protective tariffs. 保护性关税使英国工业免受国际竞争影响。
• The new tariffs have put a stranglehold on trade. 新的关税制对开展贸易极为不利。

5 delegation   

n.代表团；派遣

参考例句：

• The statement of our delegation was singularly appropriate to the occasion.我们代表团的声明非常适合时宜。
• We shall inform you of the date of the delegation's arrival.我们将把代表团到达的日期通知你。

6 obstruct   

v.阻隔，阻塞(道路、通道等)；n.阻碍物，障碍物

参考例句：

• He became still more dissatisfied with it and secretly did everything in his power to obstruct it.他对此更不满意，尽在暗里使绊子。
• The fallen trees obstruct the road.倒下的树将路堵住了。

7 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

8 looming   

n.上现蜃景（光通过低层大气发生异常折射形成的一种海市蜃楼）v.隐约出现，阴森地逼近( loom的现在分词 )；隐约出现，阴森地逼近

参考例句：

• The foothills were looming ahead through the haze. 丘陵地带透过薄雾朦胧地出现在眼前。 来自《简明英汉词典》
• Then they looked up. Looming above them was Mount Proteome. 接着他们往上看，在其上隐约看到的是蛋白质组山。 来自英汉非文学 - 生命科学 - 回顾与展望

9 busted   

adj. 破产了的，失败了的，被降级的，被逮捕的，被抓到的 动词bust的过去式和过去分词

参考例句：

• You are so busted! 你被当场逮住了！
• It was money troubles that busted up their marriage. 是金钱纠纷使他们的婚姻破裂了。